Neurocrine Biosciences' (NBIX) "Hold (C+)" Rating Reaffirmed at Weiss Ratings

Key Points

• Neurocrine Biosciences has had its "hold (C+)" rating reaffirmed by Weiss Ratings, while other analysts have upgraded their price targets and ratings, indicating varying levels of optimism about the stock's performance.
• Recently, the stock price for Neurocrine Biosciences opened at $139.08 and experienced a 1.5% increase, with a market cap of approximately $13.79 billion.
• For the last quarter, Neurocrine reported $1.06 earnings per share (EPS), exceeding analysts' expectations of $0.98, and achieved a revenue of $687.5 million, up 16.5% from the previous year.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report)'s stock had its "hold (c+)" rating reaffirmed by stock analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Several other analysts have also recently issued reports on the company. UBS Group raised their target price on Neurocrine Biosciences from $152.00 to $174.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Morgan Stanley raised their target price on Neurocrine Biosciences from $158.00 to $163.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. Piper Sandler lifted their price objective on Neurocrine Biosciences from $154.00 to $175.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Royal Bank Of Canada increased their target price on Neurocrine Biosciences from $144.00 to $149.00 and gave the stock an "outperform" rating in a research report on Friday, September 5th. Finally, Wall Street Zen upgraded Neurocrine Biosciences from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, Neurocrine Biosciences has an average rating of "Moderate Buy" and an average price target of $161.89.

Neurocrine Biosciences Stock Up 1.5%

NBIX opened at $139.08 on Wednesday. The stock has a market cap of $13.79 billion, a PE ratio of 41.15, a P/E/G ratio of 0.99 and a beta of 0.21. Neurocrine Biosciences has a 52 week low of $84.23 and a 52 week high of $154.61. The business's fifty day simple moving average is $137.20 and its 200 day simple moving average is $124.76.

Neurocrine Biosciences (NASDAQ:NBIX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.08. Neurocrine Biosciences had a return on equity of 13.22% and a net margin of 13.88%.The firm had revenue of $687.50 million for the quarter, compared to analysts' expectations of $653.09 million. During the same period last year, the firm earned $1.63 earnings per share. The company's revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, equities analysts anticipate that Neurocrine Biosciences will post 4.28 earnings per share for the current year.

Insider Buying and Selling

In other Neurocrine Biosciences news, Director Kevin Charles Gorman sold 106,322 shares of Neurocrine Biosciences stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $126.41, for a total value of $13,440,164.02. Following the completion of the sale, the director owned 514,596 shares of the company's stock, valued at approximately $65,050,080.36. The trade was a 17.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.80% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Diametric Capital LP boosted its holdings in Neurocrine Biosciences by 2.6% in the 2nd quarter. Diametric Capital LP now owns 3,244 shares of the company's stock worth $408,000 after buying an additional 81 shares during the period. IFP Advisors Inc lifted its stake in Neurocrine Biosciences by 4.2% in the 2nd quarter. IFP Advisors Inc now owns 2,172 shares of the company's stock worth $273,000 after purchasing an additional 88 shares in the last quarter. Linden Thomas Advisory Services LLC lifted its stake in Neurocrine Biosciences by 1.5% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 6,699 shares of the company's stock worth $842,000 after purchasing an additional 96 shares in the last quarter. DE Burlo Group Inc. lifted its stake in Neurocrine Biosciences by 2.2% in the 1st quarter. DE Burlo Group Inc. now owns 4,717 shares of the company's stock worth $522,000 after purchasing an additional 100 shares in the last quarter. Finally, Central Pacific Bank Trust Division lifted its stake in Neurocrine Biosciences by 6.2% in the 2nd quarter. Central Pacific Bank Trust Division now owns 1,725 shares of the company's stock worth $217,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 92.59% of the company's stock.

Neurocrine Biosciences Company Profile

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company's products include INGREZZA for tardive dyskinesia and chorea associated with Huntington's disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.

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